Attorney Mary Solada Comments on Future of Wind Energy Federal Subsidy
Bingham Greenebaum Doll LLP attorney Mary Solada recently commented in an article in The Indiana Lawyer regarding the potential end of a federal subsidy that could have major ramifications for the wind energy industry.
An excerpt of the article is below. To read the full article, visit The Indiana Lawyer's website.
The federal Renewable Electricity Production Tax Credit for wind energy expires Dec. 31. It provides a federal subsidy of 2.2 cents per kilowatt hour generated for 10 years after a wind turbine is in operation. Most turbines are expected to have a lifespan of at least 30 years.
The looming expiration of the tax credit, meanwhile, is producing a whirlwind of activity at the Wildcat Wind Farm under development north of Elwood in rural Madison and Howard counties. E.ON Climate and Renewables is building the farm, and communications manager Matt Tulis said the pace of construction is stepped up because the company can only claim the tax credit for turbines that are generating electricity by Dec. 31.
Bingham Greenebaum Doll LLP partner Mary Solada represents E.ON, and she said without the tax credit, new wind projects are unlikely.
“I think it would decimate the industry,” Solada said. “From everything I’ve heard and read and talked to folks in the industry, the economic model in the industry today assumes the tax credit.”
To read the full article and additional comments from Mary, visit The Indiana Lawyer's website.